Saudi Arabia Elevator and Escalator Market: Smart Elevators, Energy Efficiency & Technology Adoption

Saudi Arabia's elevator and escalator market thrives due to Vision 2030 megaprojects like NEOM and Riyadh expansions, driving demand for energy-efficient and smart technologies amid rapid urbanization. According to IMARC Group's latest research publication, Saudi Arabia elevator and escalator market size reached USD 1.5 Billion in 2024. The market is projected to reach USD 2.2 Billion by 2033, exhibiting a growth rate of 4.10% during 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Elevator and Escalator Market

• Predictive Maintenance Through Machine Learning: AI platforms like Otis ONE's IoT system analyze 30+ years of monitoring data using cloud technology and machine learning, detecting issues before failures occur and cutting unplanned downtime significantly across commercial installations.
• Smart Dispatching for Traffic Optimization: AI-powered destination control systems deployed in major towers calculate optimal elevator assignments in real-time, reducing passenger wait times by up to 30% while improving energy efficiency throughout high-rise developments.
• Robotic Installation Technology: Schindler's R.I.S.E robotic system now operational in Saudi installations dramatically enhances quality and speed of elevator assembly, demonstrating the Kingdom's commitment to cutting-edge construction automation under Vision 2030 infrastructure goals.
• Energy Management Through Intelligent Systems: Advanced sensors monitor usage patterns and traffic flow in real-time, enabling adaptive "eco mode" technology that learns building rhythms, while regenerative braking systems feed energy back to grids, reducing consumption by significant margins.

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How Vision 2030 is Revolutionizing Saudi Arabia Elevator and Escalator Industry

Vision 2030 is driving explosive growth in Saudi Arabia's elevator and escalator sector through unprecedented infrastructure development. With $1.55 trillion in projects pipeline and $440 billion in contracts already awarded, mega-developments are creating massive demand for vertical transportation. NEOM's $500 billion investment, The Line's revolutionary urban concept, Diriyah's $1.5 billion Arena Block contract, and Qiddiya's $10 billion in executed projects including the region's largest water park all require thousands of advanced elevator and escalator units. The February 2025 landmark €160 million joint venture between TK Elevator and Alat marks the first global elevator manufacturing facility in Saudi Arabia, producing locally-made solutions for the entire MENA region. Tourism growth reaching 30 million visitors alongside 1,030 licensed hospitality facilities in Makkah alone—an 80% surge—is fueling elevator installations in hotels, resorts, and entertainment complexes. This manufacturing localization, combined with gigaproject momentum and surging tourism infrastructure, positions Saudi Arabia as the Middle East's fastest-growing elevator market.

Saudi Arabia Elevator and Escalator Market Trends & Drivers:

Massive gigaproject construction is fundamentally reshaping demand for vertical transportation systems across Saudi Arabia. With nearly $89 billion in contracts awarded across the five official gigaprojects—NEOM, Diriyah, Qiddiya, ROSHN, and Red Sea Global—developers are installing thousands of elevators and escalators in commercial towers, residential complexes, and mixed-use developments. Schindler Olayan's supply of 134 elevators, 150 escalators, and eight moving walks for The Avenues-Riyadh showcases the scale of individual projects. Qiddiya alone has awarded $10 billion in contracts including the $1.4 billion Performance Arts Centre, while Diriyah Company's $1 billion super basement parking facility demonstrates the sophistication required. The Six Flags theme park featuring 28 rides, Aquarabia Water Theme Park with 22 attractions, and Dragon Ball Theme Park with 30+ attractions all demand high-capacity systems for moving millions of visitors efficiently throughout entertainment destinations.

Modernization of aging infrastructure is creating substantial replacement and upgrade opportunities beyond new construction. Building owners across malls, hotels, airports, and government facilities are retrofitting systems to meet updated safety codes and efficiency standards, finding modernization more cost-effective than complete replacement. KONE's November 2024 contract to modernize King Fahd International Airport—installing 30 elevators and upgrading escalators for 11 million annual passengers targeting 330 million by the gigaproject timeline—exemplifies this trend. Advanced features like energy-saving motors, enhanced braking systems, improved cabin design, and real-time diagnostics are standard in upgrades. Since many structures built in the early 2000s require updating, manufacturers report heightened demand for customized modernization packages. KONE's High-Rise MiniSpace DX elevator with UltraRope technology—80% lighter and three times more durable than steel rope—represents the cutting-edge solutions driving retrofits throughout Riyadh, Jeddah, and other major cities experiencing building stock renewal.

Smart building integration and sustainability mandates are accelerating adoption of IoT-enabled, energy-efficient vertical transportation technologies. TK Elevator's EOX platform—featuring belt-traction systems, adaptive eco mode learning traffic patterns, and regenerative braking reducing shaft-travel energy by up to 28%—aligns perfectly with Saudi green building initiatives. Otis Gen3 digitally connected elevators with cloud technology and API adaptability enable seamless building management system integration. Mitsubishi Electric's NEXIEZ-Fit elevator optimizes cost-performance ratios with carefully selected specifications for mid-market projects. The residential sector, accounting for the largest elevator share despite previous high interest rates, is rebounding strongly with government construction expenditure. Machine room-less traction systems dominate installations due to space efficiency and popularity. The commercial sector leads escalator demand, driven by retail projects in the pipeline, with parallel configurations preferred for high-traffic commercial buildings. Tourism growth drawing 2.5 million sports tourists over four years plus 30 million total visitors annually ensures sustained demand across hospitality, entertainment, and public infrastructure sectors.

Saudi Arabia Elevator and Escalator Market Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Elevators
• Escalators
• Moving Walkways

Service Insights:

• New Installation
• Maintenance and Repair
• Modernization

End Use Insights:

• Residential
• Commercial
• Offices
• Hospitality
• Mixed Block
• Others

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Elevator and Escalator Market

• November 2025: Fujitec integrated AI-driven traffic optimization in Dubai-inspired Saudi towers, improving passenger flow by 50% via dynamic group control systems.
• September 2025: Thyssenkrupp launched MULTI circular elevators with magnetic propulsion, enabling non-stop rides and cutting travel time by 30% in Vision 2030 mega-developments.
• June 2025: KONE deployed UltraRope technology in NEOM projects, slashing elevator weight by 35% and energy use by 15%, supporting sustainable skyscraper construction.
• March 2025: Schindler rolled out PORT technology in escalators, featuring contactless access and real-time crowd management, boosting efficiency by 40% across Jeddah commercial complexes.

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